June 2021
Beginner
192 pages
3h 33m
English
Content preview from Bulletproof Investing
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 14Compound growth: the Eighth Wonder of the World
Albert Einstein, one of the world's most famous physicists and mathematicians, once described compound interest as the Eighth Wonder of the World, saying ‘he who understands it, earns it … he who doesn't, pays it’.
Warren Buffett, universally regarded as the most successful modern-day investor, concurs: ‘My wealth has come from a combination of living in America, some lucky genes and compound interest,’ he explained along his journey of amassing a net worth exceeding $87 billion. So, if there's one sure fire way to become a bulletproof investor, it's to grasp the genius of compound interest/growth.
At different stages throughout school and university, I learned the basic premise of compound growth. At that time, it didn't stand out or strike me as being overly significant. In terms of practical application to real life, it probably ranked alongside algebra — very low! However, Uncle John proclaimed compound interest as the most important concept to understand if you want to achieve financial success.
By this stage of my apprenticeship (I was about 21 at the time) it had become very clear I was never going to be able to save my way to financial independence. (Remember my sums: put aside 10 per cent of my pay packet for 192 years and I might get to where I want to go.) In that scenario, I feared the clock would beat me! But what if I could buy more than one property — that is, have multiple assets all increasing in value ...
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